Drexel University on Thursday morning officially opened its new Gerri C. LeBow Hall, which will house its college of business.

Gov. Corbett was to be on hand for the opening of the 12-story, 177,500-square foot building at 33rd and Market streets, as well as benefactor Bennett S. LeBow, a West Philadelphia native. The university also announced a new school of economics within the business college.

“The opening of Gerri C. LeBow Hall marks a major milestone for the university,” Drexel President John A. Fry said in a prepared statement. “This new building will transform business education at Drexel and affirm LeBow College’s stature as one of the nation’s premier business schools. We are extremely thankful to Ben for his generosity and commitment to helping prepare future generations of students for leadership roles in an increasingly complex world.”

The $92 million building, with a 67,000-foot exterior of limestone and glass, was named for LeBow’s late wife. LeBow, a business turnaround specialist, gave Drexel $45 million in 2010 for the new building. The building includes undergraduate and graduate classrooms around a central atrium, a 300-seat auditorium, a 100-seat lecture hall and a conference center.

It will house the college’s centers: : The Center for Corporate Governance, the Dana and David Dornsife Office for Experiential Learning, the Center for Corporate Reputation Management, the Center for Research Excellence, the Center for Teaching Excellence and an Institute of Strategic Leadership. It also will include the Baiada Institute for Entrepreneurship.

“My Drexel education was the catalyst to my professional success,” LeBow said in a prepared statement. “I know first-hand the passion and hunger in LeBow to provide a superior education to students and I am delighted to do what I can to make its vision a reality.”